Concurrent Investment Advisors LLC Takes Position in Blue Bird Corporation (NASDAQ:BLBD)

Concurrent Investment Advisors LLC acquired a new stake in shares of Blue Bird Corporation (NASDAQ:BLBD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,538 shares of the company's stock, valued at approximately $276,000.

A number of other hedge funds have also recently bought and sold shares of the business. Freedom Investment Management Inc. grew its stake in Blue Bird by 4.9% during the 4th quarter. Freedom Investment Management Inc. now owns 8,461 shares of the company's stock valued at $327,000 after purchasing an additional 392 shares in the last quarter. Quarry LP grew its stake in Blue Bird by 55.0% during the 4th quarter. Quarry LP now owns 1,262 shares of the company's stock valued at $49,000 after purchasing an additional 448 shares in the last quarter. Dunhill Financial LLC grew its stake in Blue Bird by 100.0% during the 4th quarter. Dunhill Financial LLC now owns 1,000 shares of the company's stock valued at $39,000 after purchasing an additional 500 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Blue Bird by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,274 shares of the company's stock valued at $706,000 after purchasing an additional 654 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Blue Bird by 44.1% during the 4th quarter. NewEdge Advisors LLC now owns 2,204 shares of the company's stock valued at $85,000 after purchasing an additional 674 shares in the last quarter. Institutional investors and hedge funds own 93.59% of the company's stock.

Blue Bird Trading Down 1.2%

NASDAQ:BLBD opened at $44.95 on Friday. Blue Bird Corporation has a 12-month low of $30.04 and a 12-month high of $55.60. The firm has a market capitalization of $1.42 billion, a P/E ratio of 13.92, a P/E/G ratio of 1.13 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.45 and a quick ratio of 0.73. The business has a 50 day simple moving average of $41.24 and a 200 day simple moving average of $37.88.

Blue Bird (NASDAQ:BLBD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. Blue Bird had a return on equity of 64.83% and a net margin of 7.97%. The business had revenue of $358.85 million during the quarter, compared to analyst estimates of $348.23 million. During the same quarter in the previous year, the firm posted $0.89 EPS. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts predict that Blue Bird Corporation will post 3.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. DA Davidson lowered their price objective on Blue Bird from $67.00 to $61.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $49.00 target price on shares of Blue Bird in a report on Tuesday, May 27th. Wall Street Zen downgraded Blue Bird from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Barclays reduced their target price on Blue Bird from $54.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Blue Bird presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.79.

Insider Buying and Selling

In other Blue Bird news, CFO Razvan Radulescu sold 10,000 shares of Blue Bird stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $45.19, for a total transaction of $451,900.00. Following the sale, the chief financial officer owned 58,203 shares of the company's stock, valued at $2,630,193.57. The trade was a 14.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Phil Horlock sold 13,289 shares of Blue Bird stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $41.70, for a total value of $554,151.30. Following the sale, the director directly owned 270,766 shares in the company, valued at $11,290,942.20. The trade was a 4.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,149 shares of company stock valued at $1,369,666 in the last 90 days. Insiders own 1.10% of the company's stock.

Blue Bird Company Profile

Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally. The company operates through two segments, Bus and Parts. It offers Type C, Type D, and specialty buses; and alternative power options through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.

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